Core Viewpoint - The State-owned Assets Supervision and Administration Commission (SASAC) has released the "Implementation Measures for Accountability in Violation of Operating Investments by Central Enterprises," effective from January 1, 2026, to strengthen accountability and responsibility in state-owned enterprises [1][2]. Group 1: Accountability Measures - The new measures specify 98 scenarios across 13 categories where management personnel of central enterprises can be held accountable for losses or adverse outcomes due to non-compliance with regulations [1][3]. - Losses are categorized as follows: general asset losses below 5 million yuan, significant losses between 5 million and 50 million yuan, and major losses exceeding 50 million yuan [1]. Group 2: Financial Business Regulations - In the financial sector, specific violations include engaging in trust, leasing, factoring, and fund businesses contrary to regulations, as well as illegal public deposit absorption and participation in private lending [1]. Group 3: Enhancements Over Previous Regulations - Compared to the previous version (No. 37), the new measures have expanded the accountability scenarios from 72 to 98, focusing on common issues faced by enterprises [3]. - The new measures also introduce compliance exemption clauses to encourage exploration in strategic emerging industries and technological innovation while ensuring accountability [3]. Group 4: Future Directions - SASAC aims to enhance the standardization, precision, and legality of accountability work, creating a clear and orderly mechanism that promotes high-quality development within central enterprises [2][3].

与此同时，假日出行带动机场旅客吞吐量较快增长，1—10月增长8.2%。交通流量也在稳步提升， 1—10月水路货运和公路货运周转量分别同比增长3.7%和2.1%。 金融板块，"流量"也是关键指标。前三季度，在沪主要金融要素市场合计成交2967.8万亿元，同比 增长12.7%。债券市场"科技板"成功推出，银行间债券市场和交易所债券市场科技创新债券发行规模突 破1万亿元。这些积极因素，带动整体服务业发展态势良好，1—10月规上服务业营收增长8%。 记者 孟群舒 吴丹璐 张杨 王力 在外部环境复杂严峻情况下，上海经济顶住压力，展现出极强的韧性，今年前三季度GDP实现 5.5%的亮眼增长。 尽管去年四季度高增长基数因素或对全年增速造成一定回落压力，但通过分析今年1—10月部分行 业统计数据可以看出，上海经济高质量发展的积极因素正在增多，结构更优、后劲更足——这是上海经 济答卷中最值得关注的特征，也是上海未来发展的信心所在。 看"流量汇聚" 今年以来，面对复杂多变的国际形势，上海外贸进出口好于预期。1—10月，上海外贸进出口总额 同比增长5.2%。其中，出口总额同比增长达到10.5%，特别是对非美市场出口增长16.3%， ...

Economic Activity - China's economic activity experienced a more significant slowdown than anticipated in August, particularly in investment, increasing the likelihood of additional stimulus measures from policymakers to maintain growth towards the official target [1] Industrial Output and Consumption - Industrial output and consumption faced their worst month of the year in August, with factory and mine production growing by only 5.2% year-on-year, marking the smallest increase since August 2024 [2] Retail Sales and Investment - Retail sales rose by 3.4% year-on-year in August, falling short of the expected 3.8% increase and down from 3.7% in July. Fixed-asset investment growth for the first eight months of the year decelerated sharply to 0.5%, the lowest reading for this period since 2020 [3] Bond Yields and Equity Market - The yield on China's 30-year government bonds decreased by two basis points to 2.16%, likely reflecting expectations that the central bank may need to ease monetary policy due to slowing growth. Meanwhile, Chinese equities maintained earlier gains, with the CSI 300 Index up by 0.7% [4]